WEBVTT - EYL #155 CEO MADE $120 MILLION FROM HEALTHCARE 0:00:00.400 --> 0:00:04.280 You just realized your business needed to hire someone yesterday. 0:00:04.800 --> 0:00:09.520 How can you find amazing candidates fast easy? Just use Indeed. 0:00:09.960 --> 0:00:12.680 Stop struggling to get your job posts seen on other 0:00:12.760 --> 0:00:16.439 job sites. With Indeed sponsored jobs, your post jumps to 0:00:16.480 --> 0:00:19.040 the top of the page for your relevant candidates, so 0:00:19.120 --> 0:00:22.119 you can reach the people you want faster. According to 0:00:22.160 --> 0:00:26.120 Indeed data, sponsored jobs posted directly on Indeed have forty 0:00:26.120 --> 0:00:30.040 five percent more applications than non sponsored jobs. Don't wait 0:00:30.080 --> 0:00:33.519 any longer. 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Go to 0:01:44.480 --> 0:01:48.480 eyluniversity dot com right now and sign up to become 0:01:48.520 --> 0:01:48.919 an earner. 0:01:48.960 --> 0:01:51.000 Don't wait, don't hesitate it over there now. 0:01:52.760 --> 0:01:56.280 My graduates from my school being forced back. 0:01:56.440 --> 0:02:12.640 Drop drop, Mike, drop back dry. All right, guys, welcome 0:02:12.680 --> 0:02:13.679 back EYL. 0:02:14.000 --> 0:02:18.160 We are in La Sunny, Los Angeles, and this is 0:02:18.240 --> 0:02:20.240 something that we've been looking forward to for a while. 0:02:20.240 --> 0:02:23.960 It's gonna be a dope conversation. So healthcare is actually 0:02:24.000 --> 0:02:26.320 fitting because we just spoke about this on Market Monday's House, 0:02:26.360 --> 0:02:28.840 just thinking that healthcare is the biggest business in the world. 0:02:28.960 --> 0:02:31.360 It makes up twenty four percent of the American budget, 0:02:31.400 --> 0:02:34.920 which is the biggest by far. Second to that as 0:02:34.960 --> 0:02:37.880 the military, I think of like fifteen percent. So when 0:02:37.919 --> 0:02:39.680 you think of businesses, a lot of time we think 0:02:39.720 --> 0:02:41.800 of you know, a lot of different industries, but people 0:02:41.800 --> 0:02:45.000 don't necessarily think of healthcare as a business. It is 0:02:45.000 --> 0:02:48.560 a business. The biggest business is recession proof. It's everything proved, 0:02:48.720 --> 0:02:51.760 big business. People always die, people always go to the hospital, 0:02:51.800 --> 0:02:54.960 people always you know, get sick. So it's one of 0:02:55.000 --> 0:02:57.600 the things that has been around since the beginning of time, 0:02:58.080 --> 0:03:01.640 so isn't going anywhere. So today we have the privilege 0:03:01.639 --> 0:03:05.360 of speaking with not just any entrepreneur, an entrepreneur that 0:03:05.400 --> 0:03:07.200 has been in the business for a very long period 0:03:07.240 --> 0:03:11.960 of time and has been extremely successful. Tommy Duncan. So 0:03:12.320 --> 0:03:14.760 you might have heard him when we when we mentioned 0:03:14.760 --> 0:03:17.240 his name in the Rick Ross interview. He has a 0:03:17.280 --> 0:03:19.600 company called jet Doc and Rick Ross is an investor. 0:03:19.600 --> 0:03:22.680 I think he invested like a million dollars into the company, right, 0:03:23.160 --> 0:03:26.000 and so we mentioned him during that interview and we 0:03:26.040 --> 0:03:29.560 spoke about it briefly. But he has a vast career 0:03:29.840 --> 0:03:33.360 in the health industry. He actually sold his first company 0:03:33.360 --> 0:03:36.120 a while back, need about a million million, and a 0:03:36.160 --> 0:03:38.880 half and then he sold this other company and then 0:03:38.920 --> 0:03:43.600 did a whole bunch more money. Yeah, over one hundred millions. Yeah, yeah, 0:03:43.600 --> 0:03:47.000 for sure. So and now he started jet doc. So 0:03:47.040 --> 0:03:50.720 it's a very interesting conversation, I'm sure, a very educational conversation. 0:03:50.880 --> 0:03:53.400 And we'll be remiss if we didn't acknowledge our brother 0:03:53.480 --> 0:03:57.120 Dame Dash, who we have a mutual relationship with. So 0:03:57.760 --> 0:04:02.200 game actually just wrapped up a movie on Tommy's life 0:04:02.240 --> 0:04:07.560 called The Prince of Detroit's Right. So shout out to 0:04:07.600 --> 0:04:09.960 my brother, Dame Dash. We was at his house yesterday 0:04:10.040 --> 0:04:13.160 and he showed us the trailer to the movie and 0:04:13.440 --> 0:04:16.040 he was very excited about it. He's very excited about 0:04:16.080 --> 0:04:18.799 you as an entrepreneur. You know, gave us some background information. 0:04:20.279 --> 0:04:22.880 So shout out to Day. Yeah, shout out to Day. 0:04:23.320 --> 0:04:25.440 So first and foremost, thank you for joining us. Appreciate it. 0:04:25.440 --> 0:04:27.159 Hey, no, it's good to be here, man, and it's 0:04:27.720 --> 0:04:30.240 at Prince of Detroit Film on I G Yeah, okay, 0:04:30.360 --> 0:04:33.040 you check it out. But here's something that's funny. You 0:04:33.080 --> 0:04:35.680 talk about healthcare. It is by far the largest economic 0:04:35.680 --> 0:04:38.880 injury in this country, but it's ugly money, so no 0:04:38.880 --> 0:04:41.520 one really pays attention to pays attention to it. You know, 0:04:41.560 --> 0:04:44.680 it's not entertainment anything sexy like that. But I just 0:04:44.720 --> 0:04:47.960 got back from Paris for fashion Week, so that the 0:04:48.000 --> 0:04:51.600 hottest show Balmon and I was there with a group 0:04:51.680 --> 0:04:55.560 of ten couples which were the VIP clients for the country, 0:04:56.800 --> 0:04:59.240 and out of those ten couples, at least five of 0:04:59.279 --> 0:05:02.880 the dudes we're in health care. So you think about fashion, 0:05:02.880 --> 0:05:05.360 all the sexy shit. You know, Cardi's there all set 0:05:05.440 --> 0:05:07.120 and all that stuff. Yeah, that's part of it too. 0:05:07.440 --> 0:05:11.560 But the folks with the money is actually spending in healthcare. Right, So, 0:05:11.640 --> 0:05:13.680 like Rashad, I live ten minutes from where we are, 0:05:14.520 --> 0:05:18.040 and my neighbors most of them are in health care. 0:05:19.640 --> 0:05:24.479 That's interesting. We're in Hollywood. In Hollywood, they in healthcare. Yeah, 0:05:24.800 --> 0:05:25.880 so how did you get started? 0:05:26.839 --> 0:05:30.880 You're a black man from Detroit, Michigan, So how did 0:05:30.880 --> 0:05:33.120 you get started in healthcare? Because the interesting thing that 0:05:33.160 --> 0:05:34.600 Dane was telling us, he was like, make sure you're 0:05:34.600 --> 0:05:36.920 asked him about this, Like it was like his family 0:05:36.960 --> 0:05:40.080 is already in the business, Like he actually already had 0:05:40.120 --> 0:05:43.279 the information and the knowledge and he grew up in 0:05:43.320 --> 0:05:45.960 the industry. And that's something that's very rare, especially in 0:05:45.960 --> 0:05:48.719 our community, Like we don't even go to the doctor 0:05:48.839 --> 0:05:51.160 majority of the time, and we have a bad relationship 0:05:51.160 --> 0:05:56.320 with medicine unfortunately and doctors, so let alone actually being 0:05:56.360 --> 0:05:58.800 in the business. So how did that go about as 0:05:58.839 --> 0:06:00.919 far as your family and and you growing up in that? 0:06:01.279 --> 0:06:02.320 Yeah, so I did you know? 0:06:02.400 --> 0:06:06.719 My mother was always been in healthcare and she got 0:06:06.760 --> 0:06:10.080 with my stepfather in about nineteen ninety, so the time 0:06:10.120 --> 0:06:13.200 I was ten years old and he was entrepreneurial, she 0:06:13.440 --> 0:06:17.760 was academic. They came together and ended up buying a hospital. 0:06:18.200 --> 0:06:21.440 It's one of the last black, for profit, black owned hospitals. 0:06:22.440 --> 0:06:25.400 It was called Southwest Detroit Hospital, but they renamed it 0:06:25.520 --> 0:06:29.159 United Community Hospital. They bought it from hud It was 0:06:29.160 --> 0:06:31.320 the seventy five million dollar hospital when it was built, 0:06:31.320 --> 0:06:33.120 but they bought it for two million dollars because it 0:06:33.240 --> 0:06:37.960 was in receivership bankruptcy. So they bought that, and then 0:06:38.080 --> 0:06:42.760 they coupled it with a HMO Health Maintenance Organization essentially 0:06:42.800 --> 0:06:46.159 an insurance company for low income people, people on Medicaid. 0:06:46.960 --> 0:06:49.880 So they operated that through the nineties and then so 0:06:50.200 --> 0:06:52.120 they operated I grew up in it, so literally when 0:06:52.120 --> 0:06:54.560 I was twelve thirteen, fourteen years old. I was on 0:06:54.600 --> 0:06:57.479 the sales team and I would go door to door 0:06:57.520 --> 0:07:01.160 in the projects and you know, different communities where there 0:07:01.160 --> 0:07:03.600 was a large population of people and go door doing 0:07:03.640 --> 0:07:05.920 ask people to sign up for medicaid. My parents company, 0:07:05.920 --> 0:07:08.880 it's called Ultimat. So I grew up selling people on 0:07:09.040 --> 0:07:12.360 health insurance for low income. And then the other time 0:07:12.520 --> 0:07:15.040 I spent I was actually at the hospital painting the basement, 0:07:15.240 --> 0:07:16.880 being a janitor and all that kind of stuff. But 0:07:17.440 --> 0:07:24.000 through that by Osmosis, I learned the business and through 0:07:24.040 --> 0:07:26.600 the nineties they had a business. I think at their 0:07:26.680 --> 0:07:28.920 apex they were doing about forty million dollars year in revenue, 0:07:28.920 --> 0:07:30.360 which at the time was a whole lot of money. 0:07:30.440 --> 0:07:32.000 You know, now things are different, it's a lot more 0:07:32.000 --> 0:07:33.720 money out here, but then that was a lot of money. 0:07:34.280 --> 0:07:37.200 They employed the most black people for any black business, 0:07:38.280 --> 0:07:39.120 and that's how I grew up. 0:07:39.400 --> 0:07:39.600 You know. 0:07:41.200 --> 0:07:43.840 Then I went to Florida and m got my NBA. 0:07:43.640 --> 0:07:48.280 In five years. You yeah, he went there for yeah? Yeah? 0:07:48.320 --> 0:07:51.280 Who did my brother? All right? What happened? He got 0:07:51.360 --> 0:07:53.040 home safe, He went to Saint John's, went back to 0:07:53.040 --> 0:07:56.800 New York. He got homesick, from fam. I never heard that. Yeah, 0:07:56.800 --> 0:07:59.840 probably was that around the Saint John. That's just the 0:08:00.040 --> 0:08:02.520 or it ain't told y'all. 0:08:03.800 --> 0:08:09.960 You've probably got some babies running around. Your fan was amazing. 0:08:10.000 --> 0:08:12.120 But I came back with my NBA and I thought 0:08:13.160 --> 0:08:15.640 I was going to take my family's business to the 0:08:15.680 --> 0:08:18.560 next level, and unfortunately around the same time, finding up 0:08:18.600 --> 0:08:22.720 losing everything. So you know what most black businesses do, 0:08:23.040 --> 0:08:26.280 particularly then without mentorship, which is what you are providing, 0:08:26.520 --> 0:08:29.080 which is what is missing in our community is mentorship. 0:08:29.120 --> 0:08:31.600 So what happens for us is those that are entrepreneurial 0:08:31.600 --> 0:08:35.280 gumption go out and then usually like anybody else, we 0:08:35.520 --> 0:08:38.440 are met with failure. Right, it doesn't go right, and 0:08:38.480 --> 0:08:40.920 then a lot of times, unfortunately we don't try again 0:08:41.640 --> 0:08:44.800 because with scar financially, emotionally and all that kind of shit. 0:08:45.000 --> 0:08:46.440 Excuse me, all that kind of stuff. 0:08:47.640 --> 0:08:49.960 But that's what the wisdom is when you have the challenge, 0:08:50.040 --> 0:08:51.520 and so the right thing to do is come back 0:08:51.559 --> 0:08:54.040 into it and try again, do it smarter and be successful. 0:08:54.040 --> 0:08:56.160 But most people, for whatever reason don't do that. 0:08:57.640 --> 0:09:01.040 But my parents ended up invest everything in the hospital 0:09:01.080 --> 0:09:04.400 in HMO, so much so that when it all went under, 0:09:04.480 --> 0:09:06.679 they had no money in the bank, like they put 0:09:06.760 --> 0:09:10.080 up the house, in the business. They put it all 0:09:10.120 --> 0:09:11.600 in there, so we had the biggest house in Detroit. 0:09:11.760 --> 0:09:14.480 They literally put it up trying to save the hospital 0:09:14.559 --> 0:09:18.920 when they started going under, versus realizing your business is important, 0:09:18.960 --> 0:09:21.240 but it's not you. It's separate. It's separate dity, so 0:09:21.240 --> 0:09:24.240 treated as such. But of course they didn't. And then 0:09:24.280 --> 0:09:27.800 it was just like you know, American gangster. 0:09:28.480 --> 0:09:31.000 When he sees our huh which part? When he lost 0:09:31.000 --> 0:09:31.439 the house. 0:09:31.240 --> 0:09:33.960 And they lost the house, they lost the first and everything. 0:09:34.320 --> 0:09:36.199 The diamond my mother had a twelve caret diamond ring 0:09:36.280 --> 0:09:38.839 probably worth a million dollars. Now had to hawket, you 0:09:38.840 --> 0:09:43.120 know what I'm saying, lost everything But for me. Then 0:09:43.160 --> 0:09:45.680 I decided, you know, I'm going to take it and 0:09:45.800 --> 0:09:48.840 just build my own company and live on a legacy. 0:09:48.840 --> 0:09:49.920 So I did it. So I did that. 0:09:50.280 --> 0:09:53.640 Twenty six I started my own healthcare company, my first one, 0:09:54.080 --> 0:09:55.000 and then sold it. 0:09:54.920 --> 0:09:55.560 By a year later. 0:09:55.600 --> 0:09:58.320 That wass CCS care compensation specialist. 0:09:58.679 --> 0:10:00.439 So what was that we'll kind of company was? 0:10:00.880 --> 0:10:02.880 So there was this dude who used to work for 0:10:02.960 --> 0:10:05.640 my parents selling insurance, like I remember mentioned going door 0:10:05.679 --> 0:10:09.040 to door medicaid well, he was a real smooth guy, 0:10:09.360 --> 0:10:10.800 kind of looked like a Dbar's brother. 0:10:14.600 --> 0:10:16.720 Name I can't name the name, but anyway. 0:10:16.880 --> 0:10:19.400 I heard that he had started his own company doing 0:10:19.440 --> 0:10:22.599 Medicaid enrollment for hospitals. So he had got this partnership 0:10:22.600 --> 0:10:24.719 with the CEO of a hospital in Detroit, and the 0:10:24.720 --> 0:10:29.040 whole business was someone's uninsured. By law, the hospital has 0:10:29.120 --> 0:10:31.160 to take care of him no matter what the case 0:10:31.240 --> 0:10:33.440 is that they have no ability to pay. But then 0:10:33.559 --> 0:10:35.840 if you could do the paperwork to get that person 0:10:36.080 --> 0:10:40.000 enrolled in Medicaid. So the ID you know, doctor Bill's 0:10:40.160 --> 0:10:42.679 pir certificate, things that proved to the state who they are, 0:10:43.240 --> 0:10:46.240 Medicaid was in retroactively rembursed the hospital for services, and 0:10:46.280 --> 0:10:49.400 he would charge like twenty percent of the reimbursement, which 0:10:49.440 --> 0:10:51.880 you could have a nick you baby cost a million 0:10:51.920 --> 0:10:54.320 dollar bill be a million dollar bill, right, So if 0:10:54.320 --> 0:10:56.000 you're getting twin center that he made two one thousand 0:10:56.000 --> 0:10:58.520 dollars to doing paperwork. He was making so much money 0:10:58.920 --> 0:11:02.280 it was crazy. Like he literally was married and bought 0:11:02.280 --> 0:11:03.920 a big house and moved his girlfriend into the house 0:11:03.920 --> 0:11:04.240 with his. 0:11:04.200 --> 0:11:05.240 Wife and his kids. 0:11:05.640 --> 0:11:07.199 She let the girlfriend lived with the that's kind of 0:11:07.240 --> 0:11:09.960 money he was making everything. You could do anything with 0:11:10.120 --> 0:11:10.800 enough money. 0:11:10.800 --> 0:11:11.920 Detroit play. 0:11:11.960 --> 0:11:14.439 I'm saying, when you're at Detroit like that and not 0:11:14.559 --> 0:11:16.120 my household ain't gona right, But I'm saying, like a 0:11:16.200 --> 0:11:18.600 Detroit at the time, he literally moved his girlfriend and 0:11:18.600 --> 0:11:20.240 with his wife, he had palm trees flown in. He 0:11:20.320 --> 0:11:23.120 was making money. But my whole thing was in the 0:11:23.200 --> 0:11:28.800 d where it's called. But the whole thing was he 0:11:28.840 --> 0:11:32.400 had lost it because they had found out that CEO 0:11:32.640 --> 0:11:35.920 was in his pocket, or vice versa, and so he 0:11:36.000 --> 0:11:40.000 lost the contract. And so me, yeah to the street, Okay, boom, 0:11:40.040 --> 0:11:42.120 I'm gonna go figure out how I'm gonna get the contract. 0:11:42.320 --> 0:11:44.840 So I went and met with his chief operating officer 0:11:45.760 --> 0:11:47.880 and persuade her to come work with me, and then 0:11:47.920 --> 0:11:49.920 I did some other things get a contract, and that's 0:11:49.920 --> 0:11:51.000 how I started my first company. 0:11:51.240 --> 0:11:54.240 Can we go back just for a second, because you 0:11:54.320 --> 0:11:57.160 were obviously were born into the healthcare industry, but you 0:11:57.160 --> 0:12:00.319 your entrepreneurial journey had a lot of stops. Yeah, right, 0:12:00.400 --> 0:12:01.960 So I know that that you had the ice cream 0:12:01.960 --> 0:12:05.200 truck at fam you did you did the fish and sandwich. 0:12:05.920 --> 0:12:08.160 What did you learn from those businesses that said you 0:12:08.160 --> 0:12:11.319 know what, this isn't gonna work because you immediately said 0:12:11.320 --> 0:12:12.360 that didn't work, but you learned. 0:12:12.640 --> 0:12:13.720 Let me go back to my passion. 0:12:13.880 --> 0:12:17.720 No, for sure, So ice cream truck, like you said, 0:12:17.800 --> 0:12:20.480 you know, I was doing that because to my surprise, 0:12:20.520 --> 0:12:22.240 I mean, how you in Florida don't have ice cream trucks. 0:12:22.240 --> 0:12:24.360 In Detroit it's cold to much out of the year. 0:12:24.360 --> 0:12:26.480 You have ice cream trucks during the summertime. So I 0:12:26.520 --> 0:12:28.520 had my tahoe converted to ice cream truck. I was 0:12:28.559 --> 0:12:31.199 playing Masterpiece of ice Cream Man, which was you know 0:12:31.240 --> 0:12:32.319 what I mean, the biggest. 0:12:32.000 --> 0:12:32.880 Song of the radio at the time. 0:12:33.920 --> 0:12:36.280 But you had to have like what ice, you had 0:12:36.280 --> 0:12:40.920 to have hot ice in anyway, then my ice cream 0:12:40.960 --> 0:12:42.240 was melting and I really didn't like it. 0:12:42.320 --> 0:12:42.680 Like I was. 0:12:42.760 --> 0:12:45.680 I enjoyed being a dude who pulled up in the 0:12:45.760 --> 0:12:48.720 tahoe with the ice cream Man playing, but I didn't 0:12:48.760 --> 0:12:51.320 like the process of working on the ice cream itself. 0:12:52.600 --> 0:12:55.840 Then I ended up starting these these uh sandwich shops, 0:12:55.840 --> 0:12:58.360 the Fries Palm Fritz Fries and the Cone because I 0:12:58.400 --> 0:13:00.640 was in Amsterdam and the coffee shops drink a lot 0:13:00.640 --> 0:13:03.720 of coffee came out and I was hungry for whatever reason, 0:13:04.120 --> 0:13:06.160 and at these fries in the corns, I'm like, I'm 0:13:06.160 --> 0:13:07.839 about to be the next Ronom McDonald. I'm about to 0:13:07.840 --> 0:13:10.720 bring this to the United States. I'm about to kill McDonald's. 0:13:11.080 --> 0:13:12.880 But I came back and I did it, and I 0:13:12.960 --> 0:13:15.240 quickly realized even though I could grow the business because 0:13:15.280 --> 0:13:20.240 I could sell, I didn't like coming in, you know, 0:13:20.360 --> 0:13:22.439 having a machine where it had to cut and peel 0:13:22.480 --> 0:13:25.120 the fries. There's too much work, and then you have 0:13:25.120 --> 0:13:27.520 people complained, then the grease gets dirty. It's just I 0:13:27.520 --> 0:13:30.120 didn't like the businesses, so so even though I had 0:13:30.120 --> 0:13:33.880 built them, I didn't like it, so they ultimately all failed. 0:13:33.880 --> 0:13:35.240 Even though I got in the airport, I was twenty two, 0:13:35.240 --> 0:13:36.480 I had a restaurant in the airport. I was in 0:13:36.520 --> 0:13:39.400 the malls on the street side next to Florida State. 0:13:39.840 --> 0:13:44.000 I didn't love the business, so it wasn't working. And 0:13:44.040 --> 0:13:45.840 then I got lost in the business too, Right, So 0:13:45.960 --> 0:13:47.920 what can happen if it's not working the way I plan, 0:13:48.080 --> 0:13:51.960 which be the next Ronom McDonald. I started doing different things. 0:13:52.080 --> 0:13:54.600 I lost my way. So then I added shrimp to 0:13:54.640 --> 0:13:57.120 the menu. Right, so you know, black folks love shrimp. 0:13:57.760 --> 0:13:59.480 I'm up late, I'm open late, and I need to 0:13:59.480 --> 0:14:02.160 have fries. Well, then I started. I was in Florid, 0:14:02.200 --> 0:14:04.000 so let me do some Caribbean things. And I had 0:14:04.000 --> 0:14:06.760 some Caribbean foods, rice and beans. So before you know it, 0:14:06.840 --> 0:14:09.040 I lost my way with the company with a business, 0:14:09.480 --> 0:14:13.560 so ultimately failed, but then went back, came back to Detroit, 0:14:14.000 --> 0:14:16.120 and I came into healthcare because I knew healthcare. I 0:14:16.240 --> 0:14:18.840 knew it without even knowing that I knew it, you know. Like, 0:14:19.240 --> 0:14:21.200 so the biggest decisions I made in my last company 0:14:21.440 --> 0:14:24.920 that I sold, the Blue Cross, I knew just through 0:14:24.960 --> 0:14:28.640 Osmosi's living, I mean just living my life as a kid, 0:14:28.840 --> 0:14:31.880 remembering decisions that my parents made in their healthcare business. 0:14:32.680 --> 0:14:36.520 Yeah, so you ended up selling the first business, right, 0:14:36.880 --> 0:14:39.040 but you didn't just take cash, right, so it was 0:14:39.040 --> 0:14:40.080 like a stock option and the. 0:14:40.080 --> 0:14:42.440 First health care business. Yeah, I got stock options. So 0:14:43.480 --> 0:14:48.120 it's a funny story. I don't know if you want 0:14:48.120 --> 0:14:52.120 the whole story, but long story short, this company I 0:14:52.160 --> 0:14:54.120 was doing back in work because I didn't get a 0:14:54.120 --> 0:14:56.520 primary contract I was doing back in so basically their 0:14:56.560 --> 0:14:58.680 primary vendor, they couldn't get folks and road to Medicaid. 0:14:58.720 --> 0:15:00.840 They gave me the second shot. I was a garbage man. 0:15:01.440 --> 0:15:03.720 But for me, of course, I got them all to 0:15:03.840 --> 0:15:07.720 prove because that was my opportunity. And through doing so, 0:15:07.880 --> 0:15:10.280 this big company who just was on this pathway to 0:15:10.280 --> 0:15:12.920 go public, had decided they wanted to come visit me 0:15:13.120 --> 0:15:16.080 and either do one of two things, do a strategic 0:15:16.080 --> 0:15:18.560 partnership with me. When set of me charging twenty percent 0:15:18.600 --> 0:15:20.760 of reimbursement, I charged eight to ten percent. But I 0:15:20.800 --> 0:15:23.720 would get a bigger volume of work or they would 0:15:23.720 --> 0:15:26.600 buy my company. And so they came to visit me. 0:15:26.600 --> 0:15:29.280 I was in the shared office space like we worked. 0:15:29.640 --> 0:15:31.840 I just had one office. We had like two officers 0:15:31.840 --> 0:15:34.920 in there, and they had a shared conference room. And 0:15:34.960 --> 0:15:36.760 I paid people to act like they worked from me. 0:15:37.160 --> 0:15:38.760 You know, I paid like forty bucks a day. I 0:15:38.800 --> 0:15:41.160 gave them a one pager with you know, three bullet points. 0:15:41.560 --> 0:15:43.760 This named the company. You know what I'm saying. This 0:15:43.880 --> 0:15:45.880 is one page, you know, one line of what we do. 0:15:46.480 --> 0:15:48.480 And anyway, so I sold those folks and I didn't 0:15:48.480 --> 0:15:50.080 want to actate to work for me, but I sold 0:15:50.120 --> 0:15:53.280 the people on buy my company and I got stock options. 0:15:53.360 --> 0:15:56.120 So they made me a senior director. They gave me, 0:15:56.200 --> 0:15:57.720 which is the time I was spent myself forty grand 0:15:57.760 --> 0:15:59.240 a year my own company. They paid me two hundred 0:15:59.240 --> 0:16:02.120 thousand a year. I was twenty seven and it gave 0:16:02.120 --> 0:16:03.360 me a thousand stock. 0:16:04.800 --> 0:16:06.320 That's what Dean was telling us. He was like, make 0:16:06.360 --> 0:16:08.280 sure you asked me about that. He started a company 0:16:08.280 --> 0:16:11.840 with a virtual regious office and sold the company. 0:16:12.760 --> 0:16:15.040 I did it twice though. That was my first time. 0:16:16.000 --> 0:16:18.200 Second time, I want a half billion out of contract. 0:16:19.360 --> 0:16:21.000 So I was at work, you know what I'm saying 0:16:21.000 --> 0:16:24.520 by the dumpsters on the phone like snaked, Yeah, and 0:16:24.560 --> 0:16:25.120 I did that. 0:16:25.320 --> 0:16:26.840 So how did you had to read this office space? 0:16:27.040 --> 0:16:31.280 So all right, let's let's get into that situation. 0:16:31.520 --> 0:16:34.480 So you you you started the company, but in order 0:16:34.520 --> 0:16:36.240 for the company to be sold, it had to have 0:16:36.320 --> 0:16:39.400 looked like more than what it actually was, right, So 0:16:39.600 --> 0:16:42.360 that's why you got the regius office space, which anybody 0:16:42.400 --> 0:16:44.720 doesn't know region's office space reagis is like a shared office. 0:16:44.840 --> 0:16:46.440 What makes I tryed to do this business in Georgia 0:16:47.400 --> 0:16:50.680 and uh to be like a subcontractor. But I learned 0:16:50.760 --> 0:16:53.920 quick learned is no real money. Here's one thing I'll 0:16:53.960 --> 0:16:59.320 clarify is my lane has been healthcare that's really the 0:16:59.480 --> 0:17:02.560 niche of government contracting, because really that's what I was 0:17:02.600 --> 0:17:05.160 doing once I got on the side, and my last 0:17:05.160 --> 0:17:11.080 company that was contract with the government. So there was 0:17:11.080 --> 0:17:12.600 this company who I was going to be there the 0:17:12.680 --> 0:17:14.600 sub who's trying to do to work in Georgia, and 0:17:14.600 --> 0:17:16.520 I quickly realized there was no big money in that. 0:17:17.280 --> 0:17:19.280 So I want to get the Medicate managed care because 0:17:19.560 --> 0:17:23.120 Obamacare had just passed, which meant more people on Medicaid, 0:17:23.320 --> 0:17:25.040 which because of the way I grew up, I knew 0:17:25.560 --> 0:17:28.560 folks who Medicaid meant more people in medicate managed care. 0:17:28.880 --> 0:17:35.160 So let's just break this down. Medicaid is the government 0:17:35.200 --> 0:17:38.959 program health insurance. Yes for people low income people. Yes, 0:17:39.320 --> 0:17:43.440 so you get commissions if you signed people up for Medicaid. 0:17:44.119 --> 0:17:45.879 Well know, the way it works is if you actually 0:17:45.880 --> 0:17:48.400 own the insurance company, which is what my parents had 0:17:48.520 --> 0:17:51.080 that's providing the medical right, and then I got it. 0:17:51.119 --> 0:17:54.359 So here's what happens. The government has the money and 0:17:54.400 --> 0:17:57.040 they're responsible for paying all the bills for people on Medicaid. 0:17:57.080 --> 0:18:00.879 All right, Well, what's happened is we had the providers, 0:18:00.920 --> 0:18:03.520 the hospitals and doctors and service providers, which is build 0:18:03.520 --> 0:18:06.080 a government over build them two or three times for 0:18:06.119 --> 0:18:09.119 the same service build. You know, somebody could be ER 0:18:09.280 --> 0:18:12.280 level five, but they EUR level two, which means not 0:18:12.320 --> 0:18:14.080 that sick. But they'll build an ear level five, I 0:18:14.119 --> 0:18:15.800 mean super sick. They would get more money for it, 0:18:16.520 --> 0:18:19.320 so they would double build, triple bill do too much, 0:18:19.400 --> 0:18:23.240 and so the government decided in order to manage the spending, 0:18:23.240 --> 0:18:25.600 they need to put a police mechanism in the middle 0:18:25.920 --> 0:18:29.159 to police the providers, and those are the Medicaid managed 0:18:29.160 --> 0:18:32.280 care insurance companies. So they contract with us and they 0:18:32.280 --> 0:18:34.520 pay us a health insurance premium per member per month 0:18:34.520 --> 0:18:38.240 they assigned to us. So in DC, my first contract, 0:18:38.600 --> 0:18:42.280 my first month I got they assigned me thirty thousand people. 0:18:42.520 --> 0:18:47.120 They're paying me roughly, you know, five thousand dollars a year. 0:18:47.320 --> 0:18:49.000 They pay me one hundred So I was getting like 0:18:49.160 --> 0:18:52.720 twelve million dollars a month, five thousand dollars per person 0:18:52.760 --> 0:18:56.040 per year, a person per year. Yeah, and I had 0:18:56.040 --> 0:18:57.280 and they signed me thirty thousand people. 0:18:57.320 --> 0:18:57.960 So do the math. 0:18:58.000 --> 0:19:01.200 It's one hundred and fifty million years by twelve, like twelve 0:19:01.240 --> 0:19:04.280 million a month first contract. Before that have to be 0:19:04.280 --> 0:19:06.080 out the hospital bills though, same time, my member goes 0:19:06.119 --> 0:19:10.120 to the hospital, the doctor, the dentists gets prescriptions, emergency 0:19:10.119 --> 0:19:12.840 transportation not emergeny transporation. I pay for everything. And if 0:19:12.880 --> 0:19:14.879 those bills are greater and they have my costs, my 0:19:14.880 --> 0:19:17.720 administrative costs to pervert, provide the service, marketing, et cetera. 0:19:18.320 --> 0:19:20.320 If my costs are greater than what I got paid 0:19:20.359 --> 0:19:23.240 from the government, I lose money. So I'm at risk. 0:19:23.280 --> 0:19:25.040 But if they're lower than I make money. 0:19:26.600 --> 0:19:30.240 Okay, So yeah, no, So are there things that you 0:19:30.280 --> 0:19:32.920 can do obviously to prevent Yeah? 0:19:33.119 --> 0:19:34.439 Yeah, so what like, what are some of the things 0:19:34.480 --> 0:19:36.040